AIn October 1950, the World Bank made a loan of $3 million to Thailand for therehabilitation of the Royal State Railways.
The World Bank has partnered with Thailand for 70 years, through both good times and times of hardship.
The World Bank’s first loan in 1950 helped improve Thailand’s transportation systems – including railways, ports and highways – and financed irrigation projects that benefited farming families. Since then the World Bank has continued to support projects in education, agriculture, telecommunications, infrastructure, water resource management, energy, public sector development and health.
This land near Sarm Chuk, Thailand is receiving its very first irrigation water,a direct result of the Chainat Barrage across the Chaophraya River.
Houses within the vicinity of the Port of Bangkok
In October 1950,the World Bank made a loan of $4.4 million,the greater part of which was used to open the Port of Bangkok to larger ships.
In recent years, our relationship has developed from that of a borrower-lender to being true knowledge partners.
The World Bank Group’s engagement in Thailand revolves around economic policy dialogue, technical assistance and implementation support on issues as diverse as sustained high economic growth, community development and peace-building in the Deep South, climate change, education, infrastructure investment and regulatory reform.
Sound advice from the World Bank Group has helped pave the way for Thailand’s progress along its developmental path.
For instance, Thailand was identified as one of the top 10 economies that improved its ease of doing business, according to the World Bank Group’s flagship report “Doing Business 2018”, due to a broad range of reforms that included streamlining its new business registration process, strengthening the rights of borrowers and creditors, and introducing an automated risk-based system for selecting companies for tax audit.
A Tadika (muslim) school in Pattani province where a World Bank supported projectis strengthening the curriculum and integrating peace activities into classrooms.
Collaboration between Thailand and the World Bank Group, such as through recent Reimbursable Advisory Services (RAS) programs, reflects the strength of our partnership.
Under RAS programs, the World Bank works with countries at their request, providing technical advice, analytical services, and implementation support. Not only have RAS programs been implemented to a high quality, but recommendations from RAS programs have been practical and aligned with Thailand’s national strategies to increase competitiveness and inclusiveness of the Thai economy.
Although Thailand currently has strong economic fundamentals in place, it is still facing many challenges. The World Bank Group’s engagement in Thailand in the medium term will be tailored to help Thailand address its economic and social challenges including inequalities; a rapidly aging society; water management; and climate-related risks.
Drawing on the “local insight, global knowledge” approach, the current Country Partnership Framework (CPF), 2019-2022, is a significant milestone in our partnership, aiming to promote resilient and sustainable growth while strengthening inclusion.
With the commitment of the Thai government and the expertise and tireless efforts of the World Bank Group, we are making a real difference in the lives of many Thai people. In this spirit, I congratulate all of those involved in our 70-year partnership, and I urge everyone to commit to this work, and to work together to support Thailand’s continuing transformation towards an innovative, inclusive and sustainable economy.
New Business Registration Tops Highest since January 2019
The top three sectors for new business registrations in January were building and construction (634), real estate (299) and transport and logistics (192).
BANGKOK (NNT) – New business registration topped 7,283 in January, the highest since January 2019, driven by the promise of Covid-19 inoculations and upbeat sentiment on the country’s economic outlook.
EEC Expects 300-billion-baht Investment This Year
BANGKOK (NNT) – The Eastern Economic Corridor (EEC) has expected investment to triple to 300 billion baht this year as investment projects previously held by the coronavirus outbreak get pushed forward again.
EEC Secretary -General Kanit Sangsubhan said actual investment in the EEC could be up from 96 billion baht in 2020, or 46% of total project applications as investors did not invest last year, and they would have to do it this year.
He said there will be a bunch of projects held up from previous years.
Commerce Ministry sets Thailand’s export growth target at 4% for 2021
BANGKOK (NNT) – Thailand has seen export growth of 0.35 percent in the first month of the year. The Commerce Minister has ordered the Department of International Trade Promotion to advance an action plan to accelerate growth, which is set at 4 percent this year.
Thai Credit Guarantee Corporation (TCG) Will Launch Bad Debt Guarantee Program for SMEs
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Skin-lightening products market to reach US$31 billion by 2024
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Thailand’s Stock Exchange (SET) synergizes with CMDF to strengthen research for capital market development
The Stock Exchange of Thailand (SET) has joined forces with the Capital Market Development Fund (CMDF) to reinforce the Capital...
New Business Registration Tops Highest since January 2019
The top three sectors for new business registrations in January were building and construction (634), real estate (299) and transport...
Asian students are vital to the health of Australian universities
Over 170,000 international student visa holders are stuck outside Australia, unable to enter because of travel bans.
Facebook unplugs Thai military propaganda
Facebook said it deleted accounts intended for targeted audiences in the southern provinces of Thailand, where Muslim insurgent groups fight...
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